Q: MANDATORY 8. If a lender only receives a declarations page without receiving a copy of the policy, and the declarations page includes the compliance aid statement, may the lender accept the policy?
A: If the compliance aid statement is included on the declarations page, a lender may determine the policy meets the definition of “private flood insurance” without further review. However, a lender also must ensure that the policy meets the amount of insurance required under the Regulation. See Q&A Mandatory 6.